LAST WEEK

Wasn't much of a week unless you are really into trying to plan for taking a kitchen down to the studs and choosing cabinets, appliances, etc.  Then again, unless you are interested in who is bugging who in the world (assume everyone) it wasn't much of a week on the world scene either.  But this week...ah, this is a different deal.

The Fed will raise rates which has been accounted for by every financial type in the universe except the bond guys who seemed to catch on late it caught on good.  The 10 year closed above 2.60% today and I suspect will climb higher following the trend in of all places, Europe, where rates have been on a tear as inflation--finally--rose above the magic 2.00% for the zone.  The jobs report on Friday didn't hurt either...and a word on that.  Depending on one's politics the 235,000 number was either a continuation of Il Duce's policies or evidence that Trump is the second coming.  Pick one. However, what is true is that the composition of the increase did change from a lot of  bed pans and burgers to actual manufacturing jobs.  The future?  Perhaps, but even the New York Times today admitted that the mood in the fly over zone has changed to a healthy dose of optimism as a result of the change in administrations.  'Course loyal readers would have known that a month or so ago but at least we can take heart in the fact that the NYT found the fly over zone.  Hope springs Eternal.

Even Over There the new optimism is beginning to catch on although this week has a bell-weather event that could really shape things.  The Dutch election is being watched far more closely than anyone expected.  No one...and I mean NO ONE...expected that in Europe's most liberal state could the far right pose such a threat to Euro-order or world order if you're out there on the snow flake fringe.  A clear victory?  No, but enough votes for a share of a coalition government could be a real possibility which could have far reaching consequences later in the year, particularly in France where reports have Mme. Le Pen increasing her support.  That's the Big Enchilada, but watch the Dutchies for the first real indication as to whether "Trumpism" as the Euros like to call it has caught on or to be more precise, to the extent that it has.   In the mean time I guess we have to be content with mundane stuff like kitchens...at least for another day.